Arrowstreet Capital Limited Partnership Invests $11.20 Million in Aris Mining Co. $ARMN

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Aris Mining Co. (NYSE:ARMN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,664,481 shares of the company’s stock, valued at approximately $11,203,000. Arrowstreet Capital Limited Partnership owned approximately 0.82% of Aris Mining at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ARMN. Goldman Sachs Group Inc. raised its stake in shares of Aris Mining by 31.0% in the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock valued at $3,280,000 after acquiring an additional 167,212 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Aris Mining during the 2nd quarter worth $32,173,000. Northwest & Ethical Investments L.P. purchased a new stake in Aris Mining during the 2nd quarter worth about $878,000. Farther Finance Advisors LLC purchased a new stake in Aris Mining during the 2nd quarter worth about $370,000. Finally, U S Global Investors Inc. acquired a new stake in Aris Mining in the 2nd quarter valued at about $1,685,000. 35.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. Zacks Research upgraded shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Canaccord Genuity Group increased their price objective on shares of Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $17.00.

Aris Mining Trading Up 3.2%

Shares of ARMN stock opened at $14.35 on Wednesday. The company has a market capitalization of $2.91 billion, a P/E ratio of -717.50 and a beta of -0.51. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $11.24 and its two-hundred day moving average is $8.88. Aris Mining Co. has a twelve month low of $3.29 and a twelve month high of $14.67.

Aris Mining Profile

Aris Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana. It also explores for silver and copper deposits. The company was formerly known as GCM Mining Corp. and changed its name to Aris Mining Corporation in September 2022.